Nearly 150 farm products may be excluded from the free trade agreement component of India-European Union comprehensive economic cooperation agreement (CECA). This move was taken to protect Indian farmers from stiff competition presented by subsidized goods.
CECA have delineated a negative list that specifies 520 items to be excluded by India. Already, a total of 402 including 246 manufactured goods, have been recorded and there is still scope for further entries. The Ministry of Commerce and Industry has sent the draft list to various Government departments and the final list will come out after consultations.
Consultations with the stake holders are in the process through discussions and meetings organized by UNCTAD. This apart, trade between India and the EU presently accounts for $50 billion and both sides are eager to strengthen their relation by sanctioning the CECA, without delaying it any further.
A special emphasis was made on textile machines and clothing during the consultations. These discussions aimed at balancing domestic industries and exports. CECA will benefit India by allowing Indian companies and professionals to seize European market.
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